Fmr LLC Cuts Stock Position in Dynatrace, Inc. (NYSE:DT)

Fmr LLC cut its position in shares of Dynatrace, Inc. (NYSE:DT) by 68.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,940,694 shares of the company’s stock after selling 6,346,220 shares during the quarter. Fmr LLC owned approximately 0.99% of Dynatrace worth $157,239,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DT. Eminence Capital LP bought a new position in shares of Dynatrace during the second quarter valued at about $158,369,000. Assenagon Asset Management S.A. lifted its position in Dynatrace by 1,146.0% in the second quarter. Assenagon Asset Management S.A. now owns 2,208,137 shares of the company’s stock valued at $98,792,000 after purchasing an additional 2,030,915 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Dynatrace by 285.7% in the second quarter. Marshall Wace LLP now owns 1,389,727 shares of the company’s stock worth $62,176,000 after purchasing an additional 1,029,387 shares during the last quarter. Dorsal Capital Management LP raised its holdings in Dynatrace by 118.8% during the 2nd quarter. Dorsal Capital Management LP now owns 1,750,000 shares of the company’s stock valued at $78,295,000 after buying an additional 950,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Dynatrace by 70.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,934,499 shares of the company’s stock valued at $86,549,000 after buying an additional 801,718 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DT. Wells Fargo & Company decreased their price objective on shares of Dynatrace from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. JPMorgan Chase & Co. upped their price target on Dynatrace from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Scotiabank lifted their price objective on Dynatrace from $55.00 to $62.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 8th. BTIG Research upped their target price on Dynatrace from $57.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Barclays upgraded shares of Dynatrace from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $52.00 to $64.00 in a report on Monday, October 7th. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $61.36.

Dynatrace Price Performance

NYSE:DT opened at $57.28 on Wednesday. The firm has a market capitalization of $17.10 billion, a price-to-earnings ratio of 104.15, a price-to-earnings-growth ratio of 8.24 and a beta of 1.01. The business has a fifty day moving average price of $54.00 and a 200-day moving average price of $49.32. Dynatrace, Inc. has a one year low of $39.42 and a one year high of $61.41.

Insider Transactions at Dynatrace

In other news, CEO Rick M. Mcconnell sold 50,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $51.50, for a total value of $2,575,000.00. Following the completion of the sale, the chief executive officer now directly owns 650,587 shares of the company’s stock, valued at $33,505,230.50. This represents a 7.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Dan Zugelder sold 11,022 shares of Dynatrace stock in a transaction on Friday, September 6th. The shares were sold at an average price of $49.71, for a total transaction of $547,903.62. Following the transaction, the executive vice president now owns 217,465 shares in the company, valued at approximately $10,810,185.15. This trade represents a 4.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,022 shares of company stock valued at $3,397,904 over the last quarter. 0.59% of the stock is currently owned by company insiders.

Dynatrace Company Profile

Dynatrace, Inc provides a security platform for multicloud environments in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates Dynatrace, a security platform, which provides application and microservices monitoring, runtime application security, infrastructure monitoring, log management and analytics, digital experience monitoring, digital business analytics, and cloud automation.